Draft Guidelines on Crime Prevention Model Implementation are published by SMV
Pursuant to SMV Superintendency’s Order No. 021-2019, the Superintendency of Security Market (SMV) authorized to publish the draft Guidelines on Crime Prevention Model Implementation by setting November 29, 2019 as the maximum date to receive comments and observations by interested parties.
The value of this document is more than referential, as it is about recommendations made by the entity legally bound to evaluate solvency and soundness of the Anticorruption Enforcement Programs within the framework of criminal investigations that the Government Attorney General’s Office may conduct pursuant to Act No. 30424, whereby it is set forth the legal entities’ autonomous responsibility for the commitment of crime of bribery of public officials and/or money laundering.
It is about an appropriate initiative that affords predictability to the companies having voluntarily implemented the Crime Prevention Model provided by Act No. 30424, or are in the process of implementation, so they can anticipate if they are duly covered against a possible liability that may rise to the detriment of the company in the event its executives, employees or related third party would commit practices of corruption or suspicious transactions in exercising his duties. As known, pursuant to Act No. 30424, legal entities having implemented an effective Anticorruption Enforcement Program are exempted from liabilities notwithstanding personal liabilities that may correspond to subjects having committed such crimes.
The draft guidelines include accurate references to documentation that will enable companies to prove the existence of minimum elements that a Crime Prevention Model shall have to be consider effective, as well as details of activities and evidences to be evaluated in order to determine whether the Enforcement Program has a real and effective functioning within the company.
Therefore:
Finally, the project reaffirm the operative nature SMV performance will have in exercising its evaluation duties of the Crime Prevention Model. That is, proofs will be recorded and collected not only from a desk review but through the company’s personnel interviews, risk matrix review, control assessment or mitigations implemented in the business organization, etc.
Publication of draft guidelines can be find in this link of SMV website.
Comments can be sent to the following e-mail address: Lineamientos30424@smv.gob.pe
